by Calculated Risk on 12/16/2013 08:30:00 AM

From the NY Fed: Empire State Manufacturing Survey

The December 2013 Empire State Manufacturing Survey indicates that manufacturing conditions were flat for New York manufacturers. The general business conditions index rose three points but, at 1.0, indicated that activity changed little over the month. The new orders index inched up, but remained negative at -3.5 ...

Labor market conditions remained weak, with the index for number of employees holding at 0.0 for a second month in a row and the average workweek index dropping six points to -10.8. Indexes for the six-month outlook generally conveyed a fair degree of optimism about future conditions ... emphasis added

This is the first of the regional surveys for December. The general business conditions index was below the consensus forecast of a reading of 4.5, and shows little expansion.